Creating And Cultivating A Culture For Growth

TRANSCRIPT AUTOMATICALLY GENERATED Hey, Hey, today, I want to chat about something you might be missing. In your growth strategy for your business? And that is the culture of your small business. Now I know a lot of entrepreneurs went into business to escape a really toxic corporate culture that didn't feel right today. If that was you, here's the question. How are you intentionally designing and creating and nurturing? The culture you want to see in your business. So I want to dive into why this is so important, why I think you need to be thinking about it sooner rather than later. And then I'm going to illustrate it with an example. So one of the first things we learned as new entrepreneurs is that there's nothing really new in the world. Right? Think back to when you were a brand new baby entrepreneur and you had that first moment of seeing somebody else selling the same thing as you. Or if not identical, like incredibly similar. And you have that moment of like, why would anyone hire me? What advice would you now as an experienced entrepreneur? Give to newbie you. I'm guessing that you would tell newbie you don't worry. It's not about what you do. It's the way that you do it. You are your own unique selling proposition? You will attract the right people who want whatever service or offer or course or program. And that's great when it's just, you. If you are your own unique selling proposition, you or your own competitive advantage. How do you make sure. That you keep that competitive advantage as you grow your business by growing your team. Your customer, having an incredible customer experience from you. Is a competitive advantage. But to harness that competitive advantage, you need to create the right environment for your team. To provide that same level of service to your customers. This is why company culture, your business's culture is so critical to growth in your business. Your culture can't swing as you have a good week or a bad week. Or a productive week or difficult week. It can't shift with your mood. It's too important for that. I want to drop a couple of stats on you because I think sometimes. That really helps to like hammer it home. First of all, let's talk about the impact on your current team. And I'm pulling these stats from Gallup. We know that engaged employees are 20% more productive. Engaged teams generate 21% in profit than teams that aren't engaged. And happy employees create three times the revenue. So, what does that first domino that creates the engaged employee that gets you the more productivity, the more profit, the three times the revenue. It's your company culture. It's how you design that culture around your team. I want you to understand how important culture has become in an employee or team members. Decision-making. A recent study showed that 72% of employees say that a strong culture would make them more likely to stay. We talk a lot about how it's makes a lot more sense to retain your customers, right. Rather than trying to find a new customer. It's more cost effective. It's more time and energy effective. Now I think about How much time and energy and money goes into recruiting, onboarding and getting a new team member up to speed. focusing on your culture can really help you with that team retention. The other piece to think about, and You might not be hiring right now, but if you're a growing business, eventually you're going to have to. This is important for you to listen to. These days we don't just compete for. Our customers we're competing for our team members. People with those great skills that you really, really want on your team. Could be being wooed by corporates with much bigger budgets. Or other businesses in similar areas, right? You are competing to get those team members that you want to help you grow your business. So a recent study showed that 78% of employees. Say the company culture was a key factor in the job search. So having that great culture is going to make your recruitment. Easier faster, more effective and therefore lower cost as well. I didn't know that you might be listening to this thinking. Yeah, but my team's great. We're all bonded. We will get on really well. Everyone loves each other. We work really well together. That's great. How are you maintaining that? So when we talk about culture, there's a few different angles. You can come from. You can be like, the culture is not what I want and I want it to be something different or can be, I love the culture and I want to make sure we maintain it. And both of those require you to know what goes into it. So I want to walk you through an example of culture so that you can kind of cement in your head. What I'm talking about. and I'm sure you're expecting me to say goo yet, but no. I love to talk about culture from the viewpoint of girl, world. Now if you're unfamiliar go world is from the movie mean girls. Where. Katie, a teenage goal comes from Africa where she's only been homeschooled. And goes to a typical American high school for the first time in her life. And she encounters girl, world. Where the primary goal or mission. Is to be pretty and popular and powerful. And it doesn't really matter what it takes for you to get there. Go world comes with its own rules. Break the iconic on Wednesdays. We wear pink line. Is only one of the rules. There's the rules about what clothes you can wear and how you can wear your hair and whether you can date your friend's ex-boyfriend. It comes with both. Outspoken. Line in the sand rules. And socially acceptable rules. But if you break those rules, there will be consequences. What was the consequence of not wearing pink or wearing sweats too often, or wearing your hair in a ponytail more than one day a week? You can't sit with us. Breakout rules and you will be excluded. Also in gold decisions were made as a unit. There was no free thought. It was group think group approval before any action was taken, whether that went me and shopping for a skirt or who you dated or heaven forbid whether you were in mathletes. So Katie has come into this completely foreign world and she's being educated on the rules of succeeding and go world, but then also picking up those kind of intrinsic behaviors on how you can communicate I mean as fetch, really a word. She's being indoctrinated into the rituals, like the jingle bell rock scene, where. Honestly, the slightly inappropriate dance is being done for all of the school and the parents. While the cool mom, Dawn says a lot, And should you do anything wrong? You can expect to receive feedback. Your name will go into the bird book with details of your crime. And the reason I love to use mean goals as an example is because I think it removes any kind of. Aspirational like, oh, I want to be the next Google, the next, next Netflix or whatever, and brings it back to those core principles where you can really see the person who came in at the beginning. Katie who came from Africa. To the Katy who is dressing, talking, acting like one of the main goals. Off to being indoctrinated into go world culture. Uh, Two very different people. That is the power that culture holds for you. Now I'm not suggesting you emulate the culture of girl world in any way, shape or form. But there's another reason why I like to use it as an example. So go world exists within this high school. If we think about who should be in charge in that high school. It's the principle. But he is so hands-off, he is so resigned to not being able to change anything. That the mean goals have taken over. Regina George is setting the culture for that. For that school. So what I want you to take away from this. Is if you do not intentionally design implement and maintain the culture you want in your organization, somebody else will. And that somebody else is usually the loudest and most dominant personality in your team. And that culture may not be what you want it to be. So, I want you to take a step back and ask yourself. Is my business culture is my team. Culture is my employee culture. As my company culture. Where I want it to be. If, yes, you need to think about how can you maintain that if no. You need to think about what's going to drive it too in the direction of where I want it to go. Now there were so many moving parts to creating that culture and maintaining that culture. That it can be overwhelming to understand where to start. So I've created a mini podcast. It's 30 minutes. 15. If you listen on two X like me. It's called the culture kickstart. You can find it a dime at ACOM Fords. It's Ash culture. I'll link it in the show notes as well. And it's just a 30 minute walkthrough what exactly is culture. What's the best business culture that you can build? How is culture formed? How does it change over time? What types of culture can you create? and we're going to go through some good and not so good business culture. Examples. So again, you can find that@dynamed.com forward slash culture, I'll link it in the show notes as well. In the meantime, if you take only one thing away from this conversation, I want it to be that your company culture. Has a direct impact on the people who have a direct impact on your business. Your team are delivering your business results. Your team are interacting with your customers. Your team all supporting you. Your company culture has a direct impact on your ability to grow. it's too important to leave up to how you feel. That particular week. The workload that your team is experiencing. Or any other external factors? You as the CEO need to design implement, cultivate, that culture. In order to grow your business.